„Pułapka” rentowności w polityce finansowej przedsiębiorstw
The “trap” of profitability in the financial policy of enterprises

Summary/Abstract: The article applies to this fragment of the financial policy of an enterprise which is linked to the trend of the profitability of equity. In the article, the author discusses two aspects of this policy which are generally ignored in the theory and practice of finance. The first is the “congestion” of payment in economic transactions, the second is the cost of the capital and its influence on the investment decisions of the company. The author assumes that in certain situations the pursuit of profitability of equity can create negative consequences for the company itself, and for the whole economy too.

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